The current wave pattern reflects my thoughts on a breakout of the $17.5k level.
I believe that in the current local decline, this is a very predictable scenario, in which many traders who took a short position will make huge profits on panic selling. For this reason, I consider the beginning of a rapid bitcoin price recovery to at least $26k in the coming days.
In addition, on altcoins are forming in a similar waves structure, indicating a high risk for short pos and the beginning of mass liquidations soon.
Be vigilant, because the market is blowing its own trumpet, not yours.
An excellent solution would be to open a long position on a breakdown of the local downtrend line.
I believe that in the current local decline, this is a very predictable scenario, in which many traders who took a short position will make huge profits on panic selling. For this reason, I consider the beginning of a rapid bitcoin price recovery to at least $26k in the coming days.
In addition, on altcoins are forming in a similar waves structure, indicating a high risk for short pos and the beginning of mass liquidations soon.
Be vigilant, because the market is blowing its own trumpet, not yours.
An excellent solution would be to open a long position on a breakdown of the local downtrend line.
